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after the commission. as a limited government person i do not think we should stay in positions forever, but at the wee time i love my job and have a lot important work to do. >> this past week, commissioner robert mcdowell and chairman julius czajkowski announced their resignations from the fcc. hear more on monday night from "the communicators," at 8:00 eastern on c-span 2. >> wednesday, british chancellor torch osborne unveiled the government's proposed tax and spending plans to members of the british house of commons. he told members 600,000 more jobs will be added this year according to forecasters. corporation tax will be cut to 20%, the lowest tax rate than any other economy in the world. in his one-hour speech, chancellor osborne announced measures aimed at assisting small business owners, first- time homebuyers, and british veterans. this is about an hour and 15 minutes. mr. deputy speaker, this is a budget for people who aspire to work hard and get on. it's a budget for people who realise there are no easy answers to problems built up over many years. just the painst
not have to go through all this fanfare to reaffirm his relationship with the israeli government. he said this is all about reaching out to the israeli public. every stock has been very carefully choreographed by the american and israeli planners. and so far, not a single flat has been put wrong by the american leader. -- not a single foot has been put run by the american leader. he has maintained that the relationship between the u.s. and israel is an unbreakable and that the relationship that has been strained in the past with mr. netanyahu is very strong, and working very well. that was the message from the press conference tonight. the body language talked about a very close working relationship, a lot of for the exchanges between the two leaders. and when they got down to business, they mention this same three issues, iran, syria, and making peace with the palestinians. except that mr. netanyahu started without -- started with iran and mr. obama ended with it. let's listen to what mr. obama had to say. >> notwithstanding our efforts and success in mobilizing the international communi
of war as water starts to dry up. the cypriot government says the next few hours will determine the future of the country. politicians are due to debate how to stop the country from going bankrupt. the european central bank says they have until monday to raise until more than -- to raise more than $7 billion. people are running out of patience. he's are the latest pictures from the capital -- these are the latest pictures from the capital, nicosia. cypriot leaders were helping -- hoping to get help from russia, but the finance minister has left moscow empty-handed. the scenep, what is behind you? we can see people on the street, presumably very angry at what is going on. >> that is right. running out of patience and now running out of money. the atms -- there have been runs on them the last 48 hours. people who have deposits in the banks are frightened that if they don't get the money out now, they will never get it out. these are some of the 300 odd demonstrators. many of these people are employees of the banks. the bank is up for restructuring when parliament sits in a few hou
governments in japan with nuclear plans in their jurisdiction will likely miss monday's deadline for reviewing their disaster control plans. other municipalities have already finished the process but have yet to draw up concrete evacuation plans. the nuclear regulation authority reviewed their disaster control measures based on new sets of guidelines. they expand from the kufrnt 10 kilometers to 306789 they also require evacuation or stay at home orders to be issued based on radiation dosage. a nhk survey shows only 46% of local governments said they'll be able to finish reviewing their disaster control plans to meet the deadline. some municipalities say the central government was too late in revising the guidelines and providing explanations necessary for them to review their community based plans. others say they don't know where to evacuate residents or don't vt means to evacuate a large number of people >>> japan's looking to the private sector for decontamination methods. the selected methods will be posted on the ministry's website. the ministry has been carrying out decontamination oper
made an announcement here, but these are sources being quoted within the government, within meetings taking place at the presidential palace, suggesting that they have reached agreement on that very controversial question about a deposit, a compulse or pi eposit tax and what -- compulsory deposit tax. they are proposing 20% of accounts over $130,000 in the bank of cyprus and 4% on the other banks in the sector, bank, the ean lyki second biggest. in theory, these two deposit haircuts won't require another vote, so this makes up another total package, including the plan to save the banks, wind them up and save the cost of recapitalizing, that the cypriots can take on sunday to the euro group and finance mirnses and the i.m.f., based on closed-door meetings that have been going on all day with the troika and say here's our compromise, give us the bail out so we can get opened. it looks like cyprus now is tantalizingly close to a deal. but it it won't come without significant pain for many. peter sharp has this report. >> the people of cyprus had endured a week of increasing uncertainty.
. the government of cyprus has brokered a last-ditch $13 billion bailout deal with european officials to stave off the collapse of its banking sector. under the deal, on deposits above approximately $130,000 in the island's main banks will be frozen and used to help pay off the banking sector's debts. in addition, cyprus' second- largest bank will be shut down. an earlier version collapsed last week when tsipras took to the streets to protest and a tax of up to 10% on their life savings. on sunday, fresh protests erupted. on cyprus withre the economist richard wolff after the headlines. and your report says the cia has been supporting a vast expansion in the flow of weapons to syrian rebels fighting president bashar al-assad. the new york times reports the airlift of arms and equipment to the rebels, largely overseen by turkey, has massively increased since early 2012 to include more than 160 flights in jordanian, saudi and qatari planes. u.s. intelligence officers have helped shop for weapons and have vetted rebel groups to decide who gets the arms. the cia's covert backing comes despite the obam
that the government draw $2 billion from royalties that the government receives for offshore drilling. researchers would attempt to find new ways to lower the cost of cars that run on alternative fuel sources. a closely watched case involving the drug industry will be heard by the supreme court tomorrow. generic drugmakers could soon make it harder for consumers to sue for a drug's side effects. under federal law, generic and brand name drugs are required to have the same warning label. now, generics are attempting to decrease liability over any harmful effects. generic companies say the industry is unable to change the product due to those federal standards. a hidden affordable care act fee is popping up for u.s. employers. the $63 fee will apply to plans covering millions of americans in 2014. it applies to employers who take on workers' medical bills and some private plans sold by insurers. the fee will be smaller in 2015 and 2016. meanwhile, the aca is projected to help 30 million uninsured americans. hedge fund manager carl ichan is pumping up his position in herbalife. according to reports,
into the sea of japan today as the bellicose rhetoric of threats from the dprk government intensified. the defense secretary ordered missile defense on the west coast to be reinforced. fourteen additional icbm@ interceptors readied for use if needed. at the state department is finally revealing the number of americans who were in a line of fire during the benghazi terrorist attack. and the extent of those injured. six months after the september 11th attack. the latest for you. tonight we begin with the end of the wall street winning streak. the dow jones industrials finishing in the red today after posting a string of eight consecutive record high closes. ten consecutive winning sessions for the dow. the dow dropping 25 points today. the s&p lost two and a half. the nasdaq fell nine points. but for the week, all three indexes posted gains. the dow jones industrial of 117 points since the opening bell monday. the s&p picking up nine and a half, the nasdaq up five. the wilshire 5,000 measuring the paper gains for the entire market for the week at $1,205,000,000,000. and the total market
the federal government should we in the rowboat and business. there should be a national university and washington. he proposed a national astronomical observatory. a white house of the sky. for this, he was ridiculed by the jeffersonian small government crowd. it did nothing to enhance his popularity at the time. it may have contributed to his defeat for reelection. 100 years later, it looks prophetic. >> hi, jennifer. >> i am enjoying this series, i watch every week. >> thank you. >> my question is, and it may have been shown during the program, i am sorry if i have not noticed, but the portraits you have been showing of the two of them, louisa catherine and john quincy adams, was there a big age difference between them? >> thank you for asking. but explain how they met and with the age difference was. >> there is an eight year age difference. john quincy was born in 1767, louisa in 1775. they meet in london. if the resident minister in the netherlands. he is sent from there to london to exchange the ratification for the jay treaty. by the times he gets to london, the business is
year. >> and he said the basis of hostility with iran is the u.s. government. we'll have the latest on president obama's trip to the region live from jerusalem. >>> the united nations is going to launch an investigation into whether chemical weapons were indeed used in syria. both the syrian regime and the opposition asked the u.n. to look into the claim. >> the demand came after both sides accused each other of firing chemical weapons on tuesday. opposition groups insist rebels don't have access to such material. >> and u.s. officials saying they welcome the move. >>> first up, north korea's new and threatening message. pyongyang warning today it has the capability to strike u.s. bases in guam and japan. >> matthew chance joining us now from seoul, south korea. matthew, is this north korea's typical bluster or something more ominous here? >> it's really difficult to say, fredricka, because it's such an unpredictable regime. but what we do know is these threats are being made all the time now. there's a lot of tension that's been growing on the korean peninsula, tension that is bein
. as a global fleet operator serving both commercial and government customers, reliability and continuity of service are our highest priorities. whether it's uav operations over afghanistan or the final game of the ncaa tournament or financial statements that have to be transferred securely around the world, um, we know that our customers expect flawless performance. to deliver this level of performance, we have to daily deal with a range of threats. probably a highest priority for us today is radio frequency interference. many times it's accidental, sometimes intentional. space debris and other challenges of space flight, cyber attacks, solar weather, space systems reliability, the fact that we today don't have an affordable technical solution for refueling and repairing satellites on orbit and last but not least, an international launch industry that's far from robust. now, our economy depends on the ability to create and instantly distribute vast amounts of data around the planet. space-based platforms have become a vital link in the national and global economies, and they're essential
? and the u.s. government spent more than a million dollars on aviation towers just a few years ago and now they're being closed. we're going to tell you why. that does not add up. >>> let's go "outfront." >> good evening, everyone. we have breaking news. the denver police say evan eiber, a former colorado inmate and member of a white supremacist gang is linked to the murder of colorado state prison chief tom clemens. we are just getting new information in tonight from court documents filed in texas. investigators say that the shell casings found in his car matched the caliber of weapon used to kill clemens and matched the brand of the casings as well. now here's what we know about eibel. he is 20 years old. he was member of a white supremacist group. once you join, the only way out of that gang is death. he was killed after a high speed chase in texas last night. we have a reporter in colorado right now on who evan eibel is. first, i want to get to jeff krayemer from the el paso county sheriff's department. lieutenant, thanks for taking the time. let's get straight to this breaking news we
, but it is what it is. at the heart of it is ending too big to fail, giving the government new tools to resolve large financial institutions when they feel in a way it will not hurt taxpayers and not subject them to risk. well, it forced losses on the shareholders and creditors of the large financial institutions, which is where they belong. it also requires the federal reserve board to have much tougher prudential standards, so higher capital, more stable liquidity, less reliance on short-term debt. those are the types of things that were problems during the crisis and the fed has been mandated to have better regulation to prevent banks from getting in trouble to begin with. the volcker rule, too, a key part, it was designed to prohibit proprietary trading by those institutions in the government safety net. if you're a bank holding company that has an insured bank that has fdic-backed deposits or access to the federal reserves discount window, you have a lot of government support provided to traditional banks. so volcker is really about customer service. your banking model should be serving cu
. his government has been blamed for a lot. the country has become a bit of a tax haven for rich russians. some banks, we are told now, will reopen on tuesday, but restrictions will be in place. there was real fear there will be a run on those banks when they do reopen and in fact, we have just learned that the two biggest and most troubled banks will not reopen tomorrow. we're told now they won't open again until thursday. what is the u.s. take away from all this, megyn? >> europe, the ally, and trading partner for the united states, certainly, is intact. that's a good thing. but according to experts, the credibility of the euro shall the credibility of the european union has been damaged by all of this back and forth for the past couple of days. as you noted, a very dangerous precedent has been set, that is dipping into private bank accounts to pay for the government, and maybe that's why we see the markets both here and in the states go down today. >> megyn: greg palkot, thank you. it's not often that the economy in cyprus makes global headlines, but experts say the latest and
the government with different culture were merged to a new department. in the early days at the department, the focus of both the administration and congress was moving quickly to prevent another 9/11-type attack on the homeland. management took a backseat to the effort. the dhs confirmed the fact when he testified before the committee last year. the management got shortchanged in the early days. it's taken years to dig out but the lack of the strong foundation left. that said, i want to give credit where credit is due. gao's recent report confirms there's considerable progress at the department. and integrating the departments and overlaying the component. the latest high-risk report includes fair amount of good news. because gao acknowledges the progress and narrowed the area on the high-risk list. the department deserves credit for the detailed plan to address all of gao's concerns and high-risk report, which i believe is unique among all the agencies on the high-risk list. i want to briefly review the improvements. in doing so i agree with gao permitted leadership of dhs has been criti
reactions. >> translator: after five years of the ppp government, people have started realizing that somewhere, somehow, he was better for us and the country. >> translator: musharraf should come back and go to prison. he's violated the pakistani constitution. >> opinion polls currently put the ruling party behind the opposition party led by former prime minister nawaz sharif. and there's another challenge to the status quo in the form of growing support for the party led by popular critic turned politician khan. >> the united nations main forum has urged sri lanka to conduct an investigation into alleged killings and disappearances during decades of civil war there with the tamil tiger rebels. the 47-member united nations human rights council adopted a resolution on violations in sri lanka with 25 nations in favor, and 13 against. such resolutions are not binding, but the scrutiny by the unhcr maintains pressure on the sri lankan government to prosecute crimes committed in the conflict. >> what we are hoping for is a domestic credible independent investigation that satisfies th
-- what caused concerns across europe and across the world. and i think the cypriot government understands that and i think the international community also needs to understand that in the way it's intervening in cypress. we should not let what is clearly a very big problem for cypress become a big problem for europe. >> ross, it doesn't necessarily seem his counterparts are doing anything to resolve this issue right now. but also, it didn't exactly look like westminster there. it looks like he was standing on the back porch or something. >> i can't actually see. i don't know which shot you can see. but, yes, big ben should be behind me somewhere. >> i meant behind george osborne. >> sorry. where i interviewed george was in the media center which is just down the road from the house of parliament. that's why. i didn't know if you were talking about my shoulder or that with george. that's where the journalists go and have breakfast. >> did he, ross, during that brief interview that you had with him or afterwards, express there needs to be more of a sense of urgency as far as britain is conc
: right now to the top story. efforts here at home to make sure our government is never able to raise the private savings of private retirement accounts of americans. saying congress shouldn't even consider any kind of tax or sees sure of deposits. if approved it could give everyone in the country a bit of relief. basically insuring what is being proposed in cyprus really can not happen here. joining me with details is the cosponsor of the resolution, republican congressman tom coal from oklahoma. congressman, thanks for coming on the show. >> thank you. melissa: do we really need a resolution to protect us from this? is there a danger this would happen, do you think? >> people in cyprus probably thought the same thing a couple days before it happened. do we really need to worry about this? i think we ought to make sure. and look, i don't think it would happen, i will be honest with you. i think, most of our regulators understand how counter productive this is, how it will destroy confidence. it will give people not to put money in safe places like banks. but we ought to reassure peop
that you have to remember that the prime minister of israel just formed a very fragile coalition government, and so the president, it's very shaky ground in israel, as well, in terms of his approval among israeli jews. many of them are sort of neutral about president obama. they don't dislike him but they don't adore him. and so for each man there is a big reason to show that they are in good for the other guy, to get some credit here in israel. and so, yes, there is good reason for each to show that all those old wounds are well on their way toward healing. nobody here is going to pretent that they don't have troubles. but they are showing that they can get along. >> keep looking for those smiles. thanks to jessica yellin in tel aviv this morning. we will come back to you over the course of the morning. this went from what was going to be a symbolic visit to one where all of a sudden there are urgent matters to discuss with the specter of chemical weapons possibly being used in syria. we want to go to our senior international correspondent ivan watson in amman, jordan, this morning. and iv
think he just might. that question was never posein the u.s. government or the cia, despite very smart people theyci have there. >> rose: then they launched thele invasion, and was immediately successful.an saddam went into hiding.dd what happened in the days after that, that made, for most of us looking at it, and for most analysts-- and you included -- serious mistakes?ys >> well, i was there for that part-- this enterprise as an embeddd correspondent, both in the command and on the ground.on and the expectation was-- theth americans essentially fought last war. they fought the 2003 war as if it was an extension of the 1991x war. they thought you defeat the republican guard pup go to-- you defeat kind of the conventionali forces. and then war is done, and we're finish people say there wasn't a plan. there was a plan. itas to hand over as quicklyan as possibleo t iraqis themselves to take out driver, put in some new drivers into the vehicle, and let it go down the road. >> rose: that was rumsfeld's theory. >> it was also condi rice's. the institution would hold, we put new people in a
for what the government promised them. let's prevent that crisis from happening. we know it's coming. this budget does that. >> some are against ryan's budget particularly those in the democrat party. it they are posing dramatically different plans for the budget. our hope is they can find compromise. the priority for both is to put americans back to work and establish strong economic growth. >> we need put americans back to, would and strong economy. a second priority one coupled with economic growth. i think we can do both. make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first degree weather update with ma r maria molina. >> maria is in the weather center tracking anoth
the deadline for cyprus. one spokesman for the cypriot government saying the next few hours will determine the future of his country. a couple of consumer reads, popping pre-market on quarterly result the company had in january and nike ends an eight-quarter streak delivering a quarter and the top expectations and shares soaring this morning. for all of you who have been waiting for the z10. the day has come. blackberry available in stores and we'll check in on a store to see how demand is shaping up. >> indexes looking to bounce back after posting their biggest losses in three weeks. wall street keeping a close eye on cyprus where officials are working on another plan to secure the bailout. thises as the mediterranean nation is facing an ultimatum by the central bank. face losing emergency funds for cyprus' banks. this morning the cypriot government spokesman said the next few hours will determine the future of the country. cyprus' finance minister has returned from russia after two days of unsuccessful talks there to reach some sort of funding deal. so that story goes on and it will play
kids say i want to be a doctor. all of it is all of the government involvement that thee they feel. >> clayton: insurance exchanges we have been hearing so much about. these need to be in place. they are not yet set up. obama care rolling out over the last few years. not all of its arms have yet taken hold. insurance exexchange a key component of the affordable care act which would basically give you the idea, you know, eligible folks could then get government subsidies in return for some of these services. henry chow has come out this week basically saying all of these set up, all of the web site stuff that we were working on to build this thing has not come together yet. he says the time for debating about the size of the text on the screen or the color or is any world class user experience, that's what we used to talk about when we were talking about this. he says two years ago. now let's just make sure it's not a third world experience. >> so basically they are saying let's do better than sim back zimbabwe. is that the experience we are trying to exceed? >> clayton: this is wha
.s. delegation. >> there are more than 132 government delegations there in italy today. the vatican says 33 christian delegations or present as well as jewish, muslim, buddhist. well as jewish, muslim, buddhist. >> we will be ri thyou eat less...ing weiyou lose weight.et. it's a great plan... until you get hungry. that's the time to take slimful. one tasty 90-calorie slimful and a glass of water satisfies hunger for hours making it easier to eat smaller meals, and resist snacking. your friends might think you found the secret to losing weight. but it's no secret... it's slimful. eating less is a beautiful thing. >> good morning. the time ms. 4:10. >> some whales are getting very friendly with the voters off the coast of southern california. >> the gray whales were coming right up to the 50 ft. fishing boat and seemed a curious and friendly. the adult whales about 50 ft. wall state alongside the boat for a long time even rubbing up against the engine. >> they were being very friendly that is good news. a very cool video. >> also in the world news a government panel in japan as increase the f
amendment, we are weapons and we have the right to even stand up against the government, especially when the government already tells us everything we have to think. host: thank you for the call. stanley has this point from chicago -- host: a look at the news magazines, "cq weekly," looking at shrinking the army if the budget cuts will not do it for them. "the atlantic's," magazine. the touchscreen generation is doing. week in arguments this the defense court on of marriage act. coverage on the supreme court from tuesday and wednesday. and become a new york, good morning, welcome to the program -- andrew, new york, good morning. welcome to the program. caller: they're turning the into victims. the way the gets on the news channel, they want to be famous for these heinous crimes. host: ok, thank you for the call. the headline this morning, if you are just tuning in, michael bloomberg just launched his campaign, myers against legal gun use -- mayors against illegal gun use." tom coburn talked about guns on "newsmakers," airing at 10:00 a.m. eastern time. here is a portion of the program ai
the relationship between the members of this troika and whether this body can continue to govern these bailouts going forward. so it includes the imf led by christine legarde, ollie rehn and the relationship between the banks. the relationships looked extremely tense last night, but on their way out, they tried to assure us that there is actually no problem. here is what christine legarde had to say about it. >> would you tell us about the future of the troika with regards to future bailout? >> the troika is doing fine. actually, there are two of us. we're doing okay. thank you very much. >> so, you know, an attempt to look friendly, that was two out of the three representatives. we didn't see mario draghi, although he was present for these deliberations. so at a time when the eurozone has an economy that's extremely weak, where we've just learned that if anything the downturn is accelerating, that the austerity measures haven't succeeded in turning this country around and that there still is no uniform way here of dealing with the failure of these banks or frankly with sovereign bailouts going
government officials in the south, people who believed that an idea -- believed in an idea that we're all created equal and that we're willing to risk and that we're willing to risk their life in the purchase soul of a lofty promise in america. today we celebrate black history month and the catalyst to progress that the emancipation proclamation as well as the march on washington provided us. we are familiar with the incarnation, whether it's the work of gandhi, mother theresa, or nelson mandela, people who have carried the torch of love and equality into the dark caves of tyrany and emerged bloody, but unbowed, they are examples of love's true limitless potential. thank you. (applause) >> and even, and even in the face of institutional hatred, the legacy of their work is a beacon for the world that loves will triumphant at the end of the day. it's triumphant because love, brotherhood and togetherness bind us together as americans. it's who we are as america. it's in our dna and those who are not part of this plan, who are not part of our constitution will eventually be overrun by our co
administrators met on monday to discuss a plan. the government wants to take money from their citizens to help with the troubled financial system in the country. lawmakers are expected tvote on the package on tuesday. the proposal to take money directly from peoples accounts have never been done before. markets around the world fell up here in london, but opened up with a triple drop. >> it sort of goes with the primal fear of people that will protect their nest egg for the future. and that it will disappear. >> reporter: it is leading to their demonstrations across the country as they popped the bulldozer outside the bank in protest. and the level of anger is only expected to grow the government approves that bailout deal. for cbs news, london. >> and now the anger is not limited to the account holders. but today, they personally denounced a tax plan. russians have about $19 billion in deposits here. much of that will be sought to launder the money stashed away by the corrupt russian officials. >>> and the preparations for the pope francis, it is the inaugural mass underway right now at the
authorities could appeal to the u.s. government for her extradition. if the acquittal is upheld, it's case over. a native of the ivory coast who was raised is serving a 16-year prison term for kercher's murder. >> ben wedeman joins us live from rome. curious what the prosecution's argument is for wanting to do this, to retry her. >> well, the prosecution objected to the whole verdict of the appellate court in 2011. their argument is they found dna evidence from amanda knox on the alleged murder weapon, a kitchen knife. however, the defense argued that there was no dna from either amanda knox or raffaele, her former boyfriend, in the room where meredith's body was found. at this point we understand the defense is continuing to present their case inside the italian supreme court behind me. but we're also hearing from some lawyers that this hearing is taking much longer than was expected. some are suggesting we may not hear whether the court will uphold the acquittal until possibly tomorrow. >> ben, what about amanda knox? we know she's not in italy during the hearing. but have we heard anyth
government takes step to tame inflation. the metal extended last week's decline, dropping to $3.45 a pound. liz: we have phillip in the pits of the cme. a pretty wild day. plus our market panel. john tanglewood and ron weiner. before we get to those two gentlemen, let's start with phillip at the cme. it was an interesting day. at one point we were down nearly 120 points. another we would up 51 points. which side do we end tomorrow? >> real interesting day, liz. i woke up. i saw the news on cyprus. i turn on fox. everything is happy. i thought we would blow to the upside and it would be a great day. the clouds had lifted but it was behind us now. later on as the day developed dutch finance minister coming out saying this problem might not be over. we might assess other euro area banks and might be too large and ask them to restructure or downsize. that starts to get the fears of contagion. that's why you saw the s&p 500 give up its gains, trade off to the lows. you saw the euro currency sell off as well. a little bit of bidding coming into the end of the day. that is just your first quarter
and that can be done in a couple of days, you reduce the government's financing demand requirement down to approximately 5 billion euros. because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. bu
. that's a big problem. government should not insure bank deposits. it's a tremendous moral hazard. one of the main reasons the banks make reckless loans. depositors don't care what the banks do with their money because the government's there. >> that's one of the guardrails to oversee these banks. >> but we don't need it. we didn't always have it. and there are other nations that don't have any deposit insurance and their banking system is much sounder than ours. >> they're asking depositors to pay for the bailout. >> no, no, no, no. there are no bailouts in those country. the countries that don't have deposit insurance have a healthier banking system. because we have this deposit insurance, american depositors don't care how reckless their banks are. the banks don't care because the depositors don't care. it's a terrible system. eventually it's going to implode. people who have money on deposit in u.s. banks are going to take huge losses one way or another. either they're going to lose their deposits, or their deposits are going to lose value because of all the inflation that's going
's what he's doing. he's like a federal government official. not watch what he says but what he's doing. that's why i love the guy. look at him he can't stop smiling. neither can you. you're both great. thank you so much. now folks, a busy day and night on capitol hill. the senate is busy voting on amendment after amendment in their budget bill. we got two distinguished senators about to join us give us their take and later on the show why can't police departments get any ammunition while the department of homeland security has bought up 1.6 billion rounds in the past year. there's no ammo for handdowns, shot guns, rifles, for training. what's up with this or is the dhs in a form of gun control that the congress can't legislate? folks don't forget free market capitalism is the best path to prosperity. stanford university stopped its course. we'll hammer them for it later in the show. i'm larry kudlow. please stay with us. zap technology. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there ! we'l
government at home and abroad. >> rand paul wants to accomplish the departments of education and congress and epa. >> small detail. >> and the federal reserve and abolish the income tax. the second amendment which does not allow in his opinion for any form of gun control whatsoever. he makes mitt romney look looks michael due dukakis. >> i paint in primary colors. >> these are details. >> they are details i would just as soon ignore. on some of those fronts. but, again, overall, the primary message that he delivers is less government at home and restraint abroad which you know what? the republican party has been reckless over the past decade. we have paid a lot for it with our philosophy. and so i think he's a good symbol like his father. listen. i voted for his father in the republican primary in 2012. did i agree with what he said about 9/11? >> god, i hope not. >> absolutely not. there are a lot of things that rand paul said i think are way out there and i disagree with, but the core issue of small government at home and restrained foreign policy abroad, i will -- >> not a realistic se
-free and it is not risk-free. there should be a risk premium associated with government debt and if you had a country like cyprus that essentially declared bankruptcy, and renegotiated these debt agreements, that might raise the interest rates of other countries. and that might not be such a bad thing. there would be more money going into private companies and less going into government. >> yeah. >> the other element of this i think is really interesting, there is a big debate whether the e.u. or whether russia will bailout cyprus. melissa: right. >> cyprus, according to recent figures i saw, the russians have about $50 billion invested in cyprus banks. so they have a lot at stake here. even though they seem tt be backing away from any kind of a bailout measure. melissa: no, absolutely. i think that is the larger story that maybe a lot of people are missing that this story has really a lot to do with russia. they have their hooks very deep in cyprus. that is their kay manned island equivalent. >> that's right. melissa: they talk about hey we bail you guys out in exchange for it we get natural gas field? o
investing. stuart: a government spokesman said this, the next few hours will determine the future of the country. it may be affecting our stock market yet, but it is high desk in a rare. the parliament will have to say yes or no one some very basic issues. will the government seize russian mob money to nationalize private pension plans, let's check cashing and withdrawals. already they have to pay cash for guess where they can find it. to be sure to my credit cards usually do the work, and long lines of the very few atms that work. will the people with their backs against the wall except the sudden and very sharp drop in there standard of living? the small island where politicians are known personally , will they vote to take their money off. a very fluid situation that could go either way. ♪ as we said, the markets at this moment did not seem to care about cyprus. look at this. the dow was up to seven points. 14478. the price of gold. one would have expected gold to go up, but it down six box. why isn't told going straight up? >> i'm just not sure, although we have to put it pr
, but the key question for cypress now, given that this is a brand new government, they've only been in town for three weeks and they made an ex politicsit promise that they wouldn't hit depositors, that's going to be the key issue. can they pass it through parliament? carolin roth is the best person to speak to you about that. >> julia, thank you so much for that. everyone here in cyprus is anxiously waiting for that vote on a very controversial bailout deal. now, i should mention that at this point, the ruling party under the president does not have a clear majority in parliament to be able to push through that controversial vote because press reports are indicating that up to three parties could be voting against that bailout deal because of that deposit tax component. now, the president is currently meeting with the leaders of the political parties. of course, what he's trying to do is to strong arm and to persuade them into voting for that deal because the other alternative, yes, that is bankruptcy for this country, which has only 1 million people and only makes up 0.2% of the entire eu
the consumer. >> we're cautious. we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you. make sure you join us tomorrow. "squawk on the street" begins right now. ♪ ♪ ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with jim kramer and scott wapner. carl quintanilla and david faber have the week off. let's take a look at how we are setting up in the united states. we are looking at a strong open higher and the dow up at 79 points and yesterday we did see signs of life and the dow surging late in the session and the dow looking to snap that three-day losing streak. as for europe, both stocks and the euro seeing some relief. we do have a bounce here, a nice one,
have this whole debate about internal improvements and what the role of the federal government should be and all of that. this is a country poised for an economic take off. monroe prosides over it. dan, as you work your way academically through the monroe papers, how much documentary evidence is there about elizabeth monroe? >> unfortunately there is not a lot. based on what her daughter reported was that at some point after he left the presidency monroe burned all personal correspondence. there is one letter that survives that is written by elizabeth. there is one letter from james to her that survives. what baffles me and drives me nuts is there is only one let they're she wrote to somebody else. she had an extensive correspondence with her friends and sisters and these letters aren't anywhere. beyond why not. seems like somebody would have kept some of these. subsequently there is a lot we don't have. there are letters that mon crow wrote to her sons-in-laws that talk about family matters. congressmen wrote letters home talking about meeting ms monroe. other women in washington rec
partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion e
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